05:35:25 EDT Mon 26 Aug 2019
Enter Symbol
or Name

Ridgestone Mining Inc
Symbol C : RMI
Shares Issued 24,125,939
Close 2019-02-13 C$ 0.18
Recent Sedar Documents

Ridgestone arranges $1.12-million private placement

2019-03-12 09:05 ET - News Release

Mr. Erwin Wong reports


Ridgestone Mining Inc. intends to complete a non-brokered private placement financing for gross proceeds of up to $1.12-million, which is expected to comprise units, with each unit comprising one common share and one-half of one common share purchase warrant, at a price of 14 cents per unit or such other price per unit determined by Ridgestone Mining management in compliance with TSX Venture Exchange pricing regulations. Each warrant will be exercisable for one additional common share of Ridgestone Mining at a price of 25 cents per share for a period of 18 months following the closing of the financing.

The expiry of the warrants may be accelerated by Ridgestone Mining at any time following the date that is four months and one day from closing of the financing and prior to the expiry date of the warrants if, at any time following the closing date, the closing price of the company's common shares on the exchange is equal to or exceeds 50 cents for any 10 consecutive trading days. In such event, Ridgestone Mining may accelerate the expiry date of the warrants by giving notice to holders of warrants and issuing a news release announcing the reduced warrant term whereupon the warrants will expire on the 10th calendar day after the date of such news release.

Ridgestone Mining intends to pay finders' fees of up to 6 per cent in cash and 6 per cent in finders' warrants in connection with the financing. Certain directors, officers and insiders of Ridgestone may participate in the financing. Net proceeds from the financing are expected to be used for continuing working capital requirements relating to the Rebeico gold-copper project in Sonora, Mexico.

Completion of the financing is subject to exchange acceptance and all securities issued pursuant to the financing will be subject to a hold period of four months as required under applicable securities legislation.

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Ridgestone Mining Inc.

Ridgestone is a TSX-V-listed junior mineral exploration company with offices in Taipei and Vancouver, B.C. The company's focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico gold-copper project.

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